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How the left prospers from prosperity

  • Markussen, Simen

This paper investigates the relationship between fluctuations in economic growth, unemployment, and voting along a left-right axis. I estimate a model that explains how political fluctuations are caused by economic fluctuations in the OECD countries. I find that higher economic growth causes a shift to the left of policy sentiments. I hold the provision of social insurance by the welfare state to be the key to understanding this relationship. I also find that the relationship changes over the sample period. I hold the tax increase needed to finance the expansion of the welfare state to be the reason for this.

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File URL: http://www.sciencedirect.com/science/article/B6V97-4RJYV1B-1/1/5fdea15efa03a61c84d29a7805f18e0c
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Article provided by Elsevier in its journal European Journal of Political Economy.

Volume (Year): 24 (2008)
Issue (Month): 2 (June)
Pages: 329-342

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Handle: RePEc:eee:poleco:v:24:y:2008:i:2:p:329-342
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505544

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  1. William D. Nordhaus, 1989. "Alternative Approaches to the Political Business Cycle," Cowles Foundation Discussion Papers 927, Cowles Foundation for Research in Economics, Yale University.
  2. Jo Thori Lind, 2010. "Do the Rich Vote Conservative Because They Are Rich?," Review of Economics and Institutions, Università di Perugia, vol. 1(2).
  3. Meltzer, Allan H & Richard, Scott F, 1981. "A Rational Theory of the Size of Government," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 914-27, October.
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